Significant recovery in Q3 2020

22-10-2020 Finance

In Q3 2020:
– Revenue: €2,097 million (down 3.1%*)
– Faster-than-expected recovery in worldwide automotive production, which was down 4.3% (versus a decline of 33% in the first half-year), magnifying the positive effects of the cost-saving and cash generation plans
– Confirmation of operational improvement at the Greer plant in line with targets

For the first nine months of 2020:
– Revenue of €5,330 million (down 20.9%*)
– Worldwide automotive production: down 23.9%
– Outperformance across all regions, with:
o 9 points in Europe, driven by the Group’s successful positioning in electric vehicles and development of more content per vehicle
o 6 points in China, with market share gains
o Outperformance of 3 points worldwide

More ambitious goals:
– 2020 financial performance confirmed
– Group transformation to boost efficiency through its Omega program
– Innovation strategy accelerated to achieve clean and sustainable mobility

”Plastic Omnium’s team have accomplished outstanding work to enhance the flexibility of our industrial facilities and adapt our operations to volatile automotive production, which will slowly recover over the years to come. The program to cut costs and increase cash generation is starting to produce results. Together with its Omega transformation plan to improve operational efficiency, the Group can plan on rapidly returning to its profitability benchmarks.
Plastic Omnium has created an opportunity out of this unprecedented crisis to strengthen its fundamentals.
The Group is unquestionably a leader in clean and connected mobility. Through its high involvement in 100% electric programs, Plastic Omnium has increased its content per vehicle and broadened its customer portfolio. At the same time, the Group is accelerating its strategy to develop clean mobility. At a special conference scheduled for November 25, we will present our global approach for the entire value chain of hydrogen solutions, from storage to fuel cell systems.“
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

*Like-for-like change in economic revenue

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Plastic Omnium, partner of Startup Autobahn, strengthens its Open Innovation network

28-09-2020 Innovation

Plastic Omnium joins the international “Startup Autobahn” platform. Founded by the University of Stuttgart and ARENA2036^*, this platform supports mobility sector start-ups and enables them to forge relationships with manufacturers such as Daimler, Porsche, BASF, ZF, BOSCH…

With around 30 leading manufacturers and universities, the Open Innovation approach of its members aims to foster a culture of exchange, disruptive thinking, technological research and contacts to accelerate creativity and innovation.

This partnership enhances Plastic Omnium’s Open Innovation approach, including start-ups, Venture Capital and partnerships with leading universities, with the aim of accelerating the Group’s disruptive innovations for the clean and connected mobility of tomorrow.

^* ARENA2036 (Stuttgart, Germany) is a flexible research factory promoting the hardware-based knowledge production needed to design the vehicles of the future. By bringing together partners from both science and industry, the project is developing a range of disruptive technologies.

To learn more about https://startup-autobahn.com

Learn more from Medhi FERHAN

Plastic Omnium becomes partner of MissionH24…

18-09-2020 Innovation

… and exclusive supplier of the hydrogen storage system for cars competing in the 24 Hours of Le Mans from 2024.

With the 2020 24 Hours of Le Mans fast approaching, Plastic Omnium has become the partner of MissionH24, the project developed jointly between the race’s promoter, Automobile Club de l’Ouest, and GreenGT, the Franco-Swiss high technology group specializing in high-powered electric-hydrogen propulsion systems. MissionH24’s objective is to establish a category for electric-hydrogen prototypes in the 24 Hours of Le Mans from 2024 on.

Plastic Omnium will be the exclusive supplier of hydrogen gas storage systems for all teams competing in this new hydrogen category.

To achieve this goal, Plastic Omnium will provide hydrogen storage for all race prototypes developed by MissionH24 up until 2024. The prototypes will be used to test the technologies before using them in competition cars from that year on. These systems will be tested in both closed trials and races to demonstrate the potential of the zero-emissions hydrogen technology.
On Saturday, September 19 at 2:12 p.m. MissionH24’s LMPH2G prototype, designed by GreenGT, will complete a lap of the circuit in the build-up to the 2020 24 Hours of Le Mans, which starts officially at 2:30 p.m.

The high-pressure hydrogen storage systems developed by Plastic Omnium will be subjected to highly demanding operating conditions in terms of speed, refueling frequency and temperature. They will be certified to automotive standards and will enable Plastic Omnium to showcase its expertise in Type 4 tanks – carbon-fiber shells with a plastic liner – and strengthen its links with the auto manufacturers pioneering this technology.

”For this project, we’ll be developing systems subject to extreme operating conditions. Motor sport and large-scale auto industry both require performance, safety and innovation, and MissionH24 is more than a technological demonstration – it’s an amazing laboratory in which to accelerate our hydrogen storage innovations, working closely with auto manufacturers.“ Christian Kopp, President and CEO of Plastic Omnium Clean Energy Systems.

About Plastic Omnium
Plastic Omnium is the world leader in intelligent exterior systems, clean energy systems and modules for cars. The Group supports 93 automotive brands in meeting the challenges of creating the clean car of tomorrow.
Plastic Omnium’s storage and emission reduction systems are suitable for all engine types: diesel, gasoline, hybrid and plug-in hybrid. The Group quickly foresaw the importance of hydrogen technology for zero-carbon mobility and, since 2015, has committed more than €200 million in investment to developing a comprehensive offer ranging from hydrogen storage to fuel cell systems. It already holds certifications for its 350- and 700-bar tanks and has received orders from bus and truck manufacturers.
Plastic Omnium is also committed to promoting hydrogen, in particular as a member of the Hydrogen Council and the European Clean Hydrogen Alliance.

Plastic Omnium wins a new contract for hydrogen storage

11-09-2020 Innovation

Plastic Omnium is awarded a contract to develop and manufacture hydrogen storage systems for the Dutch manufacturer VDL as part of H2HAUL, a European project dedicated to deploying zero-emission hydrogen-based mobility solutions in the road transportation sector.
By 2021, Plastic Omnium will supply a complete system for trucks to be manufactured by VDL, comprising seven tanks storing 40 kg of hydrogen at 350 bars.

The H2HAUL (Hydrogen Fuel Cell Trucks for Heavy Duty Zero Emission Logistics) project is a consortium subsidized by the European Union with 15 partners, aiming at developing, certifying and operating three new types of hydrogen trucks while also enhancing the supply infrastructure.
As of 2021, VDL will be delivering 4 of the 16 trucks in the H2Haul project. VDL is a Dutch Heavy Duty vehicle manufacturer based in Eindhoven, with a strong focus on new forms of mobility, and working closely with DAF to equip trucks with zero emission drivelines.
All the trucks in this project will be traveling several millions kilometers to demonstrate the sound technical and economical case for hydrogen in the long-distance transportation sector, ultimately leading to the manufacturing of significant volumes of trucks in Europe.

This contract with VDL, represents a further success for the Group following the order of 350-bar bus tanks for a German manufacturer in late 2019 and the certification of its 350- and 700-bar tanks.

Plastic Omnium has also confirmed its commitment to promoting hydrogen by joining the European Clean Hydrogen Alliance, recently created by the European Union to help achieve its Green Deal goal of carbon neutrality by 2050.

The Group estimates the production will grow up to 2 million vehicles in 2030. Plastic Omnium is accelerating its investments to be a leader in zero-carbon hydrogen-fueled mobility solutions, from storage to fuel cell systems.

2020 half-year results: Resilience and transformation

23-07-2020 Finance

An agile, efficient and responsible group to manage an historical drop in worldwide automotive production in the first half-year
– Outperformance of 4.3 pts on worldwide automotive production down 33.8% in the first half of 2020;
– Group anticipation and reactivity: €117 million in cost reductions over the period;
– Protecting cash and liquidities: investments were reduced by €82 million; €560 million of 5-year new credit lines, without any covenants;
– On top of employee protection measures, creation of a dedicated Covid-19 fund.

Reinforced leadership and ambitions in a slowly recovering market
– Outperforming worldwide automotive production by at least 5 points in 2020 and 2021;
– Management hypothesis of a production at 64 million in 2020 and 70 million in 2021 (against 86 million in 2019);
– Strengthening the Group’s profitability with a new plan for annual savings of €240-million by end-2022: digitizing and transforming the organization, and industrial rationalization;
– Consolidating clean and connected mobility technologies based on strong innovative capacity and a sound financial structure with €1.9 billion in liquidities available at June 30, 2020;
– Making CSR a performance accelerator via ambitious programs in terms of carbon neutrality, team diversity and equal opportunities.

”Facing an unprecedented global crisis, we can rely on solid human, industrial, technological and financial fundamentals, which will enable us to maintain our strategic ambitions to be a key player in clean and connected mobility.
The Group is unveiling a far-reaching transformation plan to respond to both the moderate recovery in the global automotive market and the accelerating technological and societal changes.
Plastic Omnium will return to positive results and to significant free cash-flow generation in the second half. Our results will continue to grow in the coming years.
I am convinced that the Group will emerge stronger from this crisis. All Plastic Omnium teams are more mobilized than ever and I thank them for their commitment.“
Laurent Favre, Chief Executive Officer of Compagnie Plastic Omnium SE

Open pdf file

2020 Half-year results presentation 2020 interim results report

To view the replay of the Webcast, click here

Innovation Awards June 2020

09-07-2020 Innovation

The second edition of the PLASTIC OMNIUM “Innovations Awards” highlights operational excellence, connectivity and clean mobility projects.

After the success of the first edition, the Innovations Awards mobilized this year nearly 670 Group employees, submitting around 178, in 20 countries and 53 sites around the globe. Four selection criteria selected the finalists: the novelty of the project, its maturity, its added value, and finally its environmental impact.

Ten projects have been awarded in the three strategic pillars of the Group: Operational Excellence, Product Innovations and Open Innovation. All underline the increase impact of digitalization to the service of industrial excellence and increased content per vehicle.

Interactive light communication, plastronics, innovative systems in the field of hydrogen…. Special prize for the roof module, embedding and protecting lidars, radars and connectivity. All these projects enrich the Group’s offer to support the connected and carbon-free car of tomorrow.

“Once again, the mobilization of the teams and the innovative quality of the projects are great and emphasize the creative spirit which reigns within the Group. Innovation is the lever of our competitiveness and our growth. Congratulations to all! »Félicie Burelle, Deputy CEO.

Plastic Omnium supports anti-COVID19 actions in the 26 countries where it operates

06-07-2020 Act For All

Plastic Omnium, as part of its ACT FOR ALL ? Social Responsibility strategy, created in April 2020 a €1 million fund to support anti-COVID19 actions.
Operating in 26 countries with 131 factories and 24 R&D centres, the Group is strongly anchored and involved in local communities. The collaborators of each site, as close as possible to needs, were naturally concerned and mobilized their energies and talents to deploy or support solidarity initiatives in the fight against COVID-19.

Many actions and associations were supported in Europe (France, UK, Spain, Germany, Poland, Slovakia), in the United States, Mexico and Argentina, and finally in Asia (China, Thailand, India, Korea, etc.).

Provision of masks, protective helmets, school support for confined children, support to hospitals and caregivers, the funds were donated as close as possible to local needs.

ACT FOR ALL ?, Plastic Omnium’s Social Responsibility program, sets ambitious goals for 2025 on the 3 pillars that make it up: Responsible Entrepreneurship, Care for People, and Sustainable Production. ACT FOR ALL ? involves daily every 32,000 employees of the Group, which they have proved during this pandemic through their initiatives, motivation and mobilization.

To learn more about ACT FOR ALL ?

Plastic Omnium wins 1st place in the 2019 ranking for the Top Management feminization in SBF 120 automotive industry

02-07-2020 Act For All

The State Secretariat for Gender Equality has published its 2019 report on the top management feminization of SBF 120. Plastic Omnium is growing strongly, rising to the 1st place in the automotive industry (25th place in the general classification, gaining 20 ranks compared to the 2018 scores). The Group counts 47% women on the Board of Directors, 27% in the Comex, and 31% in the Top 100.

In addition to these notable advances, the 1st place ranking integrates the initiatives driving the feminization of teams such as the training and awareness-raising of managers, and the creation of the Women @ PO network, whose objective is to promote diversity and female careers within the Group.

Plastic Omnium recognized by General Motors as a supplier of the year winner

02-07-2020 Innovation

Plastic Omnium was named a GM Supplier of the Year by General Motors during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, June 24, 2020.

During the event, GM recognized 116 of its best suppliers from 15 countries that have consistently exceeded GM’s expectations, created outstanding value or introduced innovations to the company.
The awards ceremony was originally scheduled as a live-event to be held in March but was postponed due to the impact of the COVID-19 pandemic. The recognition is for supplier performance in the 2019 calendar year.

”Our suppliers play a key role in delivering the products, services and experiences our customers deserve – and these award-winning suppliers went above and beyond our expectations,“ said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain.

The Supplier of the Year award winners were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners were selected based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales, and Logistics.

”This award recognizes our teams’ dedication to exceeding General Motors expectations. The Plastic Omnium team works in close collaboration with the GM team to achieve innovation and operational excellence.“ John DUNN, President and CEO Plastic Omnium Americas.

Plastic Omnium’s innovation strategy allows him to rank 20th among INPI 2019 patent applicants

01-07-2020 Innovation

The INPI has published its 2019 top 50 patent applicants, in which Plastic Omnium ranks at the 20th place, gaining 8 places compared to the 2018 ranking. In the automotive industry, Plastic Omnium ranks at the 7th place of the most important patent applicants.

This achievement attests to the Group’s proactive innovation strategy to shape the clean and connected car of tomorrow, capitalizing on its 26 global R&D centres working closely with its 93 customers. The Group has recently signed strategic partnerships to boost innovation for exterior intelligent systems connectivity, and has certified hydrogen tanks, for which he has won first contracts, confirming Plastic Omnium as a major player in the energy transition.

INPI 2019 patent applicants (FR only)

100% of the 131 worldwide plants of Plastic Omnium are now operational

24-06-2020 Expertise

Plastic Omnium has gradually reopened its plants since April, ensuring the safety of its employees, and in accordance with the local policies of the 26 countries where the Group operates.

As of June 24, 100% of the 131 plants of Plastic Omnium are reopen!

The gradual ramp up of production answers to the group’s automotive customers local needs, in strict compliance with the safety rules implemented worldwide by Plastic Omnium for its employees.

Plastic Omnium had anticipated the restart of production since March 2020, by developing ”Safe Restart Playbook“, by training each employee for its implementation and by sharing it with its suppliers on its website.

Safe Restart Playbook

On site Actions & Examples

Plastic Omnium invests to equip its employees with surgical masks

15-06-2020 Group

Plastic Omnium acquires two production lines for surgical masks. One was started in May in its ?-Sigmatech R&D center (Lyon, France) to meet the needs of its European sites, the second will be installed at the end of June in Puebla (Mexico), to cover the needs of North and South America. Each line production capacity is 1.5 million masks per month, thus ensuring the Group’s autonomy for the protection of it employee, in application of reinforced sanitary measures.

Safe Restart Playbook

On site Actions & Examples

Plastic Omnium top priority is employee safety when restarting production

30-04-2020 Group

Plastic Omnium is putting into practice the ”Safe Restart Playbook“ for the restart of its plants’ production in Europe and North America. With an absolute priority given to the safety of its employees, the entire organization of the plants and their flows have been reviewed as of the entrance on site: training, distance measures in shared spaces, reorganization of flows and workstations on the shopfloor and offices… Discover, in pictures, the work of the teams.

Safe Restart Playbook

On site Actions & Examples

1st quarter revenue, 2020

21-04-2020 Finance

During the 1st quarter of 2020, thanks to its solid order backlog, Plastic Omnium managed to outperform by 20 points the worldwide automotive production, down by 24.4% due in particular to the Covid-19 pandemic (outperformance by 19.6 points on economic revenue and by 21.7
points on consolidated revenue).

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2020 Q1 confcall presentation

To listen to the replay of the conference, click here

Plastic Omnium production in China back to activity

15-04-2020 Group

On April 8, Chinese authorities lifted the two and a half months lockdown on Wuhan city, allowing the restart of operations in the last confined region of China. After all its other Chinese plants, Plastic Omnium has thus been able to restart production in its sites and reopen its R&D center in the region of Wuhan.
All of Plastic Omnium’s sites i.e 29 plants, 2 R&D centers and Shanghai offices are now operational.

For Plastic Omnium, employees’ safety is a top priority. With this objective in mind, a Restart Task Force leaded by the Group and headed by the Asia General Manager, had anticipated the restart of operations and implemented plant disinfection, epidemic prevention information, training of the teams, etc. He is helped in this task by a specially appointed Covid manager per each plant, whose task is to ensure that the 15 non-negotiable fundamentals will be applied on a daily basis.

Plants loading in China are gradually increasing to reach today an average of 50%, casting a positive light for the restart of the automotive business in the region.

Those strict preventative and protective measures will be maintained as long as necessary to ensure the teams’ safety. The Restart program will be a management and operational tool for every Plastic Omnium plant once the reopening will be possible.

Discover Restart program

Protection and temperature measures

Applying distancing measures